Following the European debt-crisis of 2010-2012, euro-zone industrial production began to recover until a peak was reached four years later in early-2016. Growth rates then slowed through the rest of 2016, accelerated during 2017 and then began a steady slowing which has lasted through to late-2019.
According to the latest figures released by Eurostat, euro-zone industrial production increased by a seasonally-adjusted 0.2% in November, less than the 0.3% increase which had been expected but a marked turnaround from October’s revised figure of -0.9%. On an annual basis, seasonally-adjusted growth in industrial production improved from October’s revised rate of -2.8% to -1.5%* in November.
Westpac macro strategist Tim Riddle said the figures were “a sign of potential bottoming in regional activity” despite the relatively lacklustre growth rate for the month.